BTS Group holders opt to convert portion of convertibles due 2016

By Marisa Wong

Madison, Wis., May 10 - BTS Group Holdings PCL said that two holders of its convertible bonds due 2016 have exercised their conversion rights. The holders have elected to convert 20 million baht of the bonds at a price of 0.85 baht per share, according to a company notice.

The bonds were converted into 23,529,410 ordinary shares on May 10.

BTS issued 10 billion baht of the bonds to investors outside of Thailand in January 2011. Following the conversion, the outstanding principal amount of the bonds is 9.98 billion baht.

BTS is a Bangkok-based mass transit services provider and property development company.

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